April 2025: Diverse Loan Solutions to Boost Your Real Estate Deals

April has been a whirlwind, and I’m excited to share what we’ve been up to - and why we should be your go-to mortgage partner in this challenging market! It’s been anything but a “cookie-cutter” month, and I wouldn’t have it any other way. My 35 years in the business have taught me that every client’s situation is unique, and our job is to find the right solution - no matter how complex.

A Month of Diverse Solutions

This month, we’ve closed various loans, showcasing the depth of options we offer to help your clients achieve their dreams. We’ve handled bank statement and profit-and-loss loans for self-employed borrowers, private and hard money loans for those needing fast funding, and several bridge loans to facilitate seamless transitions. I’m working on two flex bridge loans to help clients improve their credit scores for better long-term financing. We kicked off April with a DSCR loan for an investor, closed a fix-and-flip loan, and wrapped up a few VA loans, FHA files, and some cookie-cutter conventional and Jumbo loans. We also tackled non-warrantable condos, a loan using asset depletion, and a 401(k) distribution when a local lender couldn’t make it work, and we’re in the process of closing two reverse mortgages, a couple of construction loans, and a land loan. If there’s a financing need, we’re ready to meet it with creativity and expertise.

Solving Problems with Real Solutions

Take a recent example: I spoke with a client who transitioned from being a nurse to a nurse practitioner, opening an S-Corp in December 2024. She’s been self-employed for only five months, and two other lenders told her she couldn’t buy a home until she had two years of self-employment history. I saw it differently. We can structure a profit-and-loss loan by averaging her income as a nurse with her current earnings as a nurse practitioner. I also gave her the option of adding a co-signer for a full-doc loan, empowering her to choose the best path. This is the kind of flexibility and knowledge we bring to every deal, ensuring your clients aren’t turned away when their situation doesn’t fit the standard mold.

Why We Stand Out

Too many lenders stick to the easy, cookie-cutter loans because they’re unwilling to learn the full spectrum of financing options. At Augusta Financial, we take pride in mastering every tool in the toolbox - from Prop 19 implications and 1031 exchanges to reverse 1031 exchanges, investment properties, capital gains, family trusts, and even advanced healthcare directives. We’re not just here to quote rates; we’re here to deliver value by guiding your clients through the process with clarity and care. I often spend 45 minutes on a call, asking the right questions to uncover a path to qualification, leaving clients confident that they can buy a home - and that it won’t be as daunting as they feared.

Always Available, Always Committed

I’m never too busy to talk to a client or an agent. Whether it’s walking through a complex scenario or answering your questions, I’m here for you. In a world of texts and emails, I believe in the power of picking up the phone - or better yet, meeting in person. So much more can happen when we connect directly, and I’m shocked that every agent in the valley isn’t already working with me or another Augusta Loan Officer! My goal is to ensure your clients walk away with the best financing experience possible, whether buying their dream home or saving money on an investment property.

Navigating a Tough Market Together

I know the last few years have been tough for many of you in real estate - maybe two or three years of challenges. As a company owner, I’ve felt it too; the past three years have been lean, and this might be the fourth. However, as a loan officer, my business remains solid because I’m committed to finding solutions for nearly every client. I want to be your resource - the partner who’s always available, hardworking, and deeply knowledgeable about real estate and mortgages. I care about your and your client’s success, and I’m here to make a difference by delivering financing options that fit their unique needs.

Let’s work together to help your clients achieve their homeownership goals, no matter the complexity. Reach out anytime - I’d love to chat and show you how Augusta Financial can elevate your business!

Please let me know if you have any questions or if a client needs my guidance. I’m just a call, text, or email away.

📞 Cell: 661-714-6258

TEXT: 661-714-6258

📞 Office: 661-260-2970 ext. 2222

📞 Direct Line: 661-291-2222

📧 Email: Mike@AugustaFinancial.com

But wait, there’s more…

Interest Rates

The roller coaster is taking rates lower for the seventh straight day! We need about 10 more of these days of slight improvement, but I like our direction. My prediction for the week? Kings win Game 5 and 6! Lakers win games 5, 6, and 7! The Dodgers sweep the Marlins and the Braves, and Interest rates return to the lowest level in 6 months! Some would say I am thinking with my heart, while others will call me crazy. The key here is I am thinking positively, and there is power in positive thinking. Plus, I am not afraid to put myself out there!

Loan Programs

• We do loans on Non-warrantable condos!
• We offer 12-day escrows for pre-approved buyers - Conventional/FHA/Jumbo/Bridge loans.
• We provide loans in all 50 states, so call me with anything you need.
• Government loans (FHA/VA/USDA) are in the high 5’s and low 6’s.
• Conventional loans up to $806,500 are in the low to mid 6s.
• High Balance Loans from $806,501 to $1,209,750 are also in the 6’s.
• Jumbo loans above $1,209,750 are in the 6’s and 7’s.
• Bank statement loans are available with 10% down again, with larger down payments in the 6’s ++.
• Profit and Loss Statement loans require 20% down - no bank statements needed, only a profit and loss statement!
• 0 down loans are available in the high 6s, with a minimum credit score of 620, up to $1,300,000.
• Private Money lenders offer Hard Money Loans with 35% down.
• No Ratio Loans require 30% down.
• DSCR (Debt Service Coverage Ratio) loans are available with as little as 15% down.
• Bridge Loans typically have an interest rate of 7.99% with limited fees, helping you get where you need to go!
• 3/2/1 Buydowns, 2/1 Buydowns, and 1/0 Buydowns are available at great starting rates!

Please note that interest rates are subject to change without notice, and the information above reflects LA County Loan Limits.

**Good News for Condos:** – Nothing new!

**Bad News for Condos***

Nothing this week!  

The full state of California naughty list has been added to MikeMeena.com! See the link below:

https://mikemeena.com/non-warrantable-condos/

Let me know if you hear anything new about condos or townhouses.

I am available every day if you need anything.

📞 Cell: 661-714-6258

TEXT: 661-714-6258

📞 Office: 661-260-2970 ext. 2222

📞 Direct Line: 661-291-2222

📧 Email: Mike@AugustaFinancial.com

Have a great day, and an even better tomorrow! Please call me when you have a client who needs to borrow!